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Cisco video unit pulls down full-year figures

ciscoCisco’s struggling service provider video business provided the only significant drag on otherwise solid full-year and fourth quarter results, with the video business delivering quarterly revenues of US$994 million (€894 million), down 7% and full-year sales of US$3.555 billion, down 10%. Cisco as a whole turned in full-year revenues of US$49.161 billion, up 4%.

The final fiscal quarter to June saw Cisco sell its video devices business to Technicolor for US$600 million in cash and stock.

In an analyst call following the results, chief financial officer Kelly Kramer said that the company had achieved Q4 revenue growth “in every product area except service provider video” and reiterated that the company would refocus its video unit around cloud and software-based services following the sale of the set-top and gateway business to Technicolor. She said that Cisco expected the Technicolor deal to close at the end of this calendar year.